jacobcanfield

The Bitcoin Chart They Don't Want You To See

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Are we going to see a similar move like this after a big wick taking out both longs and shorts?


I was going through my analysis and we broke down as predicted in my last two updates and we are getting very close to the 'secret bitcoin buy zone' on the weekly 21 EMA with our RSI resetting to our bull market support.

If you haven't seen my 'secret chart' yet, head here to check it out. We're getting close to the bounce zone.

I also gave a lot of reasons for confluence on my more in depth analysis here:

I see, once again, traders calling for low $7000's and potentially even lower.

I am not convinced we are out of the bull market yet as we haven't even had our 21 EMA retest that we've had on every single uptrend we've seen before and we are still far above the 200MA on the daily.

This was just a fun analysis (I don't typically take fractals too serious) as I saw some eerie similarities in the market structure from last week that lined up perfectly with my $9100 buy zone. I like to post my thoughts for you guys anyway, whether they are right or wrong.

It'll be pretty cool if it does play out the way I want it to though! :)

Remember, if you're trading on a spot exchange like coinbase or binance, they are running about $20 more than leverage exchanges. So, make sure you calculate this.

The only question is now, will it line up for the #6 part where it bounces hard off of that lower support zone that it has touched multiple times.

It **IS** possible that we go to $8500 as there are a lot of things that give us confluence there like the CME futures gap, the 50% fibonacci zone and several other things.

I guess we will have to wait and see if this plays out.

As always, make sure you are managing your risk appropriately and let me know what you guys think in the comments.

Here are some key levels I'm watching for.
KEY LEVELS WE ARE WATCHING FOR:

SUPPORT =
Support Zone - $9333 - 9078
21 WEMA - $8968
CME Gap and 50% fibonacci zone - $8450

RESISTANCE =
100 DMA - $10,047 – Broke on 8th attempt
Channel - $10,344 – BROKE and Trading BELOW
Local Downside Trend - $10,152
9 DEMA - $10,047
20 DMA - $10,429
50 DMA - $10,510
Swing Fail Trendline - $11,064
Weekly Resistance Zone - $11,382 - $11,532

Thanks for reading guys! Love all the support and comments. Let's go make some money together .
Comment: If you are getting triggered by a meme fractal analysis, I would like to encourage you to go outside more or sign up for Tinder.
Comment: I told you they didn't want you to see it.
🏆 Get Margin Trading And Altcoin Trading Setups Today -> https://www.signalprofits.com

Comments

Lol..."The Bitcoin Chart They Don't Want You To See" such a title for such a analysis. You should read more books about trading and less about conspiracies :)
+7 Reply
@Tyno, See Chart Update. ;)
Reply
Some people don't seem to get that 6-6.5% drop over two days is really, really minor, especially in as volatile and manipulation heavy of an asset as BTC is. The TA simply echoes and predicts what human nature is actually calling, and will not predict a spike drop--or increase-- like we saw yesterday. This was pure market manipulation, and is beyond any analyst's ability to predict.

The fundamentals that were present before the 6% drop are still there. The rising, 2 month wedge on the 4 hour chart, still there. Institutional money still pouring in. Fidelity about to launch BTC trading. TDAmeritrade, same. Bakkt coming online soon. ETFs coming on line soon. Halfening coming in May 2020.

In other words, if you sell now, you're lost. This is a weak hands shakeup, nothing more... and it could continue. More drops could happen. The Whales are buying, and BTC at $9500 is a buying opportunity. BTC at any 4 figure price is a must-buy scenario. While no one can say what happens short term, 12-18-24-36 months from now, we all know where BTC will be.
+7 Reply
CryptoBullet gonuclearnavy
@gonuclearnavy, well, if you think ta cant predict what happened, then check our idea
Reply
CryptoBullet gonuclearnavy
@gonuclearnavy, we agree that 9-8k is good buy
Reply
PurpleCrypto gonuclearnavy
@gonuclearnavy, Ummm...

Reply
If you are sincerely genuine, you wouldn't use clickbait titles like these "The Bitcoin Chart They Don't Want You To See". You would just do the chart work and let people find you for your work and integrity. I say this with due respect as some of us have been on this circuit for an extremely long time and we have found just a tiny tiny tiny handful of genuine chartists that never ever ask you to click the like button, subscribe or have clickbait titles. Please give us the audience some respect. Thank you very much.
+6 Reply
Posting a chart after we've started to go up... WOW. You're so smart.
+6 Reply
@vicsp, that’s not even remotely what the chart says. Thanks for the snarky comment though.
+2 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter